Lockbox. The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payment directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.
Appears in 11 contracts
Samples: Amended and Restated (Cherokee Inc), Security Agreement (Cherokee Inc), Security Agreement (Pacific Cma Inc)
Lockbox. The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payment payments due under the relevant account or chattel paper directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.
Appears in 11 contracts
Samples: Security Agreement (Nationwide Electric Inc), Security Agreement (Nationwide Electric Inc), Security Agreement (Nationwide Electric Inc)
Lockbox. The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payment payments due under the relevant account or chattel paper directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.deposit
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Lockbox. The Secured Party may, by written notice to the Debtor, require the Debtor to direct each of its account debtors to make payment directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.
Appears in 1 contract
Samples: Security Agreement (Misonix Inc)
Lockbox. The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payment directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.
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